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Household Bank

By: EconomyWatch Date: 9 September 2010

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Household Bank is one of the brand name of HSBC Group. HSBC is a leading establishment with more than 90 million customers worldwide. Household bank has been rebranded to Beneficial Finance, which is a component of HFC Bank Limited. Household bank provides some beneficial financial services for customers

Financial services

Some of the primary financial solutions of household bank are:

Loans: One of the prime service of household bank is to provide loans. Household banks provides a variety of loan types, like personal loan, flexible loan, homeowner loan etc. Whether you'd like a little bit extra or a more substantial sum, we've got a loan to match.
- Personal loan: This is a kind of unsecured loan. Customers can borrow loan amounting from £1,000 - £15,000
- Flexible loan: This is also an unsecured kind of loan, which enables the customer to build additional repayments. It also enables the customer to borrwo amount from £500 - £5,000.
- Homeowner loan: This option will be beneficial for the customers if they wish to borrow a larger amount. It is a secured loan. The customer can acquire loan of £5,000 - £75,000
Insurance: Household bank provides some beneficial kind of insurance policy, through which customers will be able to protect themselves. Not only this, the insurance policies are very handy and bears low premium cost. Some of the prominent types of insurance policies are:
- Payment protection insurance coverage: This insurance options will ensure the customers about repaying the loan amount. In case the customer is unable to repay his loan amount within the defined period, this insurance policy can assist him to recover from the trouble.
- Accident coverage: Through this insurance coverage, customers will be able to acquire a lump sum of amount, if accidentally he get disabled permanently and in the event of the death of the customer, his family will get all the defined benefits.
- Critical illness coverage: This policy will cover the insured and his family member, if the customer suffers from critical sickness.
- Home and motor insurance policy coverage: Customers can opt for this type of insurance policy option, if they want to insure their home or vehicle.
Credit check: Household bank provides loans and credit on the basis of the credibility of the customers. This is called credit rating. Household bank normally varifies the credit history of the customers and accordingly ascertain the credit check.
MasterCard: This is one of the efficient option through which customer will be able to manage their account credit. Some of the benefits of household bank MasterCard are:
- Customers will be able to access the cash through this MasterCard at almost all ATM's all over the world.
- Customers will be able to access their account 24 hours a day and 7 days a week
- Customers can acquire the advantage of increasing their credit limits
- Emergency card replacement is also done. Customers can also get some cash advances.
- Customers will be able to pay their bills online
Credit card: One of the prime service of Household bank is credit card facility. They determined to offer guaranteed credit card which will definitely meet the customers needs. Some of the prominent features of household bank credit card are:
- Customers can acquire the lower monthly payment facility with their term life insurance.
- Customer can protect their account by identifying online fraudulant activities